Panalpina enters into plea agreement in US antitrust case

Panalpina announced (01-Oct-2010) the settlement of certain claims arising from an investigation by the US Department of Justice Antitrust Division (DOJ) for violations of the Sherman Antitrust Act. Under the terms of the agreement, Panalpina will enter guilty pleas to three counts of conspiring to violate the Sherman Act, and will pay a fine of approximately USD12 million. The plea agreement releases the company from further prosecution for any conduct related to the sale of international air freight forwarding services, and for conduct related to the imposition of certain enumerated surcharges in connection with the sale of international ocean freight forwarding services. [more]